As the Disc Turns...20 Apr, 2009 By: Thomas K. Arnold
It’s already shaping up to be an interesting week. We’ve just received word that Image Entertainment’s protracted merger agreement with Nyx Acquisitions has been called off, due to the latter’s failure to pay Image an additional $1 million as required by the agreement. Jeff Framer, the longtime Image executive who recently replaced David Borshell as president, said despite the collapse of the merger Image “is well-positioned to grow.”
We’ve also noticed that sometime this week, DVD is expected to cross the 100,000-title barrier. According to our friend Ralph Tribbey at The DVD Release Report, there are currently 99,048 DVDs in active release (98,576) or in the pipeline (another 472). And with about 200 titles added each week, we’re on track to hit a very significant milestone in a matter of days.
Meanwhile, it’s been ominously quiet at the studios since the layoffs that hit most everyone in January and February. Staffs are said to be adjusting to the new reality of doing slightly less business with slightly fewer people, and cutting costs continues to be the order of the day. At one studio, even high-level executives have been capped at $50 for business lunches; while at another international travel has all but been eliminated.